The United States is still not officially in a recession. That's because a recession is only defined by a group of academics called the National Bureau of Economic Research. http://money.cnn.com/2008/11/07/markets/thebuzz/index.htm?cnn=yes
It's now official, and as most of us already figured out, it's not a youngster. http://money.cnn.com/2008/12/01/news/economy/recession/?postversion=2008120115
No one(especially the gen public) gives a fuck about the National Bureau of Economic Research. When the public tightens down their wallet, cant get loans, have their work hrs cut and/or laid off completely, and GDP can barely move forward...... those are serious recessionary sypmtoms. PERIOD
US is not in a recession, per intrade. A recession is defined as two consecutive quarters of negative GDP growth. What's the official definition of a depression?
Recession is defined as 2 consecutive periods of neg GDP ? And who is the ultimate authority on whats the RIGHT definition? Just bcuz it doesnt fit someone's definition of what a recession is doesnt mean it isnt happening. people who go by so called "definitions" lack foresight and are incapable and/or stubborn about seeing the bigger picture......